I find it increasingly difficult to keep up with economically stupid proposals.
Commenting on central bank foolishness is a full time job in and of itself. Factor in unions, Keynesian and Monetarist clowns, and I hardly get any sleep. Economic nonsense in France, Spain, and elsewhere in Europe sends the situation over the top.
For example, I previously commented Housing Construction in France Lowest in 50 Years; Hollande Responds With Measures to Support Building “For the Public Good”
Housing starts in France will fall to 280,000-300,000 in 2013, the lowest level in 50 years according to developer Nexity. The government wants 500,000 units per year.
Housing Starts Insanity
Reader Tim Wallace helps put that insanity into perspective. Wallace writes …
I was astounded to see that France wants 500,000 units of housing starts. According to the World Bank in 2011 France had a population of 65.5 million people. This compares to the USA population of 311.6 million from the same source. Therefore France is approximately 21% the size of the USA. For the USA to have an equivalent number of housing starts to population (the people who would get the units) we would need to have 2,380,952 starts!
We know how that would end.
Indeed, we do know how this would end.